Illinois Municipal Retirement Fund reduced its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT – free report ) by 2.1% in the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The fund held 49,200 shares of the real estate investment trust after selling 1,050 shares during the period. Illinois Municipal Retirement Fund held 0.06% of PennyMac Mortgage Investment Trust worth $722,000, according to its latest filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently added to or reduced shares of PMT. Texas Permanent School Fund increased its holdings in PennyMac Mortgage Investment Trust by 1.6% in the first quarter. Texas Permanent School Fund now owns 75,812 shares of the real estate investment trust worth $1.113 million. It acquired an additional 1,179 shares in the last quarter. GSA Capital Partners LLP increased its holdings in PennyMac Mortgage Investment Trust by 76.7% in the first quarter. GSA Capital Partners LLP now owns 77,407 shares of the real estate investment trust worth $1.136 million. It acquired an additional 33,605 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in PennyMac Mortgage Investment Trust by 12.4% in the first quarter. Janney Montgomery Scott LLC now owns 54,021 shares of the real estate investment trust's stock, valued at $793,000, after acquiring an additional 5,974 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in PennyMac Mortgage Investment Trust by 20.6% in the first quarter. BNP Paribas Financial Markets now owns 52,493 shares of the real estate investment trust's stock, valued at $771,000, after acquiring an additional 8,966 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. now owns 643,252 shares of the real estate investment trust's stock worth $9,443,000 after acquiring an additional 28,121 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.
Wall Street analysts predict growth
Several brokerage firms have commented on PMT. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 price target for PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Keefe, Bruyette & Woods raised PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and increased their price target from $15.00 to $15.50 in a report on Wednesday, July 10th. Wedbush reaffirmed a “neutral” rating and set a $15.00 price target for PennyMac Mortgage Investment Trust in a report on Monday, April 29th. Finally, Piper Sandler reaffirmed a “neutral” rating on PennyMac Mortgage Investment Trust and set a $15.00 price target (previously $14.50) in a report on Thursday, May 9. Five research analysts have rated the stock with a hold rating, and three have assigned a buy rating to it. According to MarketBeat data, PennyMac Mortgage Investment Trust currently has a consensus rating of “hold” and an average price target of $15.00.
Read the latest PMT report
PennyMac Mortgage Mutual Fund trading volume up 1.7%
Shares of PennyMac Mortgage Investment Trust opened trading at $14.72 on Wednesday. PennyMac Mortgage Investment Trust's 52-week low is $10.52 and its 52-week high is $15.89. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 9.81 and a beta of 1.51. The stock's 50-day moving average price is $14.00 and its 200-day moving average price is $14.15. The company's quick ratio is 0.34, current ratio is 0.34 and debt-to-equity ratio is 1.37.
PennyMac Mortgage Investment Trust announces dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be paid a $0.40 dividend. This equates to a $1.60 dividend on an annualized basis, or a yield of 10.87%. The ex-dividend date for this dividend is Friday, July 12th. PennyMac Mortgage Investment Trust's dividend payout ratio is currently 106.67%.
About PennyMac Mortgage Investment Trust
(Free report)
PennyMac Mortgage Investment Trust, through its subsidiaries, invests primarily in mortgage-related assets in the United States. The company operates through the following segments: Credit Sensitive Strategies, Interest Rate Sensitive Strategies and Correspondent Production. The Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinated mortgage-backed securities (MBS), non-performing loans and real estate.
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